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AT&T: 3Q Earnings Snapshot

10/22/2020 | 06:36am

DALLAS (AP) _ AT&T Inc. (T) on Thursday reported third-quarter net income of $2.82 billion.

The Dallas-based company said it had net income of 39 cents per share. Earnings, adjusted for amortization costs and to extinguish debt, were 76 cents per share.

The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The telecommunications company posted revenue of $42.34 billion in the period, exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $41.56 billion.

AT&T shares have declined 32% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 6%. The stock has dropped 30% in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on T at

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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